Adient performs well in first year

United States

Published: 03 November, 2017

Adient, the automotive seating and interior components supplier has recorded fourth-quarter adjusted net income up 8% to US$219 million, with adjusted EBIT of US$296 million. The company was formed just over a year ago when it was spun-off from Johnson Controls.

Unadjusted fourth quarter net income stood at $344 million, after reporting a loss in the same period a year earlier. Following the announcement on November 2, the company reported net income of $877 million, or $9.34 per share, making a profit in the period. Revenue was reported as $16.21 billion. Adient shares have increased 45% since the beginning of the year.

Adient has 86,000 employees operating in 237 manufacturing and assembly plants in 33 countries worldwide, producing and delivering automotive seating for all vehicle classes to all major OEMs.

The supplier completed the acquisition of seating supplier Futuris Group during the fourth quarter. The acquisition is expected to accelerate revenue and earnings growth and add value for shareholders. The results beat Wall Street expectations.